Managing the Ledger

Checkout Bookkeeping Work

Each purchase order, invoice, payment and stock correction made
in a store creates a journal entry in Checkout that can later be
exported to AccountEdge or another accounting application. Checkout
uses an accrual-based, double entry accounting model internally.
When you create your store database you can select whether Checkout
should use an Average Cost or a FIFO cost matching system to track
your stock related transactions. You cannot change the cost
matching system after you have created your store database.

Transactions made in Checkout are final the moment they are
recorded. To make it easy to correct mistakes, various options are
provided throughout the interface to make a correction. Whenever
you make such a correction, a corresponding transaction will be
created–your bookkeeping records will always be accurate.

Ledger Options

In the Checkout Ledger, you have several display options
including the ability to filter by date range, filter by keywords
and ledger view:

Simplified View
A simple breakdown of entries. This view shows the basics of each
entry including the date and time of the entry, what the entry was,
what customer or supplier the entry was made for, the profit amount
(if any) on the entry and the total amount involved with the entry.
You have the options to filter the list for specific customers or
suppliers, using the filter bar, and specifying a date range.

Journal View
The journal view shows a detailed double-entry breakdown of each
transaction in the system. This view will show the date of the
entry, what the entry was for, each debit for the entry, and each
offsetting credit for the entry. You can print the ledger or create
a PDF file by choosing Print from the File menu. As above, you have
the options to filter the list for specific customers or suppliers,
using the filter bar, and specifying a date range.

Integration

Checkout allows you to export your ledger to AccountEdge (2009
and later US Mac versions, and 2009 and later Canadian version),
Mamut AccountEdge and AccountEdge Plus, and QuickBooks Pro for Mac
software (2007, 2009 and 2010 US versions).

All Transactions
Export all transaction from the first entry through the last
entry.

Selection Only
Export entries based on both the date range and entered search
terms.

Since Last Export
Export all entries since the last export of the currently selected
file format. At the bottom of the window you’ll see a short
description of the last transaction included in an export.

The Since Last Export option is recommended when you
export journal entries on a regular basis. Neither Checkout nor
AccountEdge checks whether exported transactions are duplicates;
there is no check to determine whether or not the transactions have
already been exported and imported into AccountEdge.

The last step is to choose what will occur when the export is
complete. The options are:

Reveal File
This option will open a Finder window in the folder where the file
was saved.

Launch AccountEdge
This option will launch AccountEdge so you can import the general
journal entries.

Nothing
If this option is selected, the file will be exported with the
indicated name to the indicated location.

To complete the export process, enter a file name at the top of the
export window, and choose a location to save the file. Click Save.
The results will be a text file of journal entries that you can
import into AccountEdge.

Import Journal Entries into AccountEdge

To import the journal entries into AccountEdge, launch
AccountEdge and open your company file, and create a backup of your
company file. Then,

Select Import Date from the File menu

Select General Journal Entries (if you are using the
International version of AccountEdge, select Transaction
Journals)

Select Tab-delimited as the import file format

Select first record is a Header Record

Click Continue

Navigate to the folder where the file containing the exported
journal entries exists, and select the file

Integration with QuickBooks Pro for Mac

If the account mappings need to change, you can click the
Configure button, to change the configuration.

When you export the journal entries to QuickBooks, you have the
following options:

All Transactions
Export all transaction from the first entry through the last
entry.

Selection Only
Export entries based on both the date range and entered search
terms.

Since Last Export
Export all entries since the last export of the currently selected
file format. At the bottom of the window you'll see a short
description of the last transaction included in an export.

The Since Last Export option is recommended when you
export journal entries on a regular basis. Neither Checkout nor
QuickBooks checks whether exported transactions are duplicates;
there is no check to determine whether or not the transactions have
already been exported and imported into QuickBooks.

Next, choose what will occur when the export is complete. The
options are:

Reveal File
This option will open a Finder window in the folder where the file
was saved.

Launch QuickBooks
This option will launch QuickBooks so you can import the general
journal entries.

Nothing
If this option is selected, the file will be exported with the
indicated name to the indicated location.

To complete the export process, enter a file name at the top of the
export window, and choose a location to save the file. Click Save.
The result will be a newly created .IFF file that you can import
into QuickBooks.

Import Journal Entries into QuickBooks

Launch QuickBooks; open your QuickBooks company file

Select Import from the File menu

Choose From IIF File...

Choose the .IIF file that you exported from Checkout

The status of the import will be displayed

Other Export Format Options

You have the option to export the ledger into a format that can
be used to import into other packages. There are 4 other format
options available:

Excel

Numbers

Comma-separated text (CSV) format

Tab-delimited (TSV) text format

Additionally, you can select the layout format of the exported
ledger data:

Journal
The journal layout exports a detailed version of transactions in a
double entry accounting layout

Simplified
The simplified layout exports transactions the same way they are
presented in the simplified view in the ledger window.